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RateTiger published annual results of its channel management performance for the year 2010. The premium benchmarking and inventory management technology provider processed over 360 million updates in 2010, an increase of 88% on 2009.
RateTiger publishes global hotel channel management trends annually ahead of ITB Berlin, Germany, the first global conference after years’ end. The stats provide insight into the importance of online bookings and rate updates to hoteliers.
In January alone, the channel manager helped hotels submit over 51 million updates to internet sales websites. On average, customers processed 18,000 updates each – a 20% rise on last year – updating an average of 10 websites compared to 7 in 2007.
As the internet becomes the lead channel for generating bookings, hoteliers are eager to ensure rates are accurate and their availability is visible across multiple channels. The channel manager now connects to over 700 channels and 10,000 hotel sites for rate management and price shopping data helping hotels and large brands expand their global sales network.
“2008 and 2009 had been trendsetting years for the online hotel market as we witnessed triple digit growth in the number of online updates made by hoteliers. With this strong foundation, the segment is now growing steadily and reflects a growth point of 88% in 2010,” said Sascha Hausmann, CEO, eRevMax. “The awareness and confidence about channel management technologies amongst hoteliers has risen considerably as they look for ways to optimise revenue and position on each channel. Revenue managers now understand the capabilities of immediate updates and the revenue benefits this brings to the hotel.”
eRevMax Group, owner of RateTiger, has made available destination data for both channel management and shopping (benchmarking) across each of its European locations and North America. With various large hotel chains now using RateTiger technology, the company expects to see a surge in usage over the next 12 months indicating the possibility of more comprehensive trend reports next season.
“Hoteliers are getting more sophisticated in how they use the internet to optimise price. Our users now use pricing data, online guest reviews, OTA booking performance and social media marketing to generate additional revenue; this is changing the way they interact with channel managers. It seems the more data they have access to, the more they want to use it,” concluded Hausmann.
Online hotel updates:
- January 2007 – 2008: 95% growth
- January 2008 – 2009: 218% growth
- January 2009 – 2010: 196% growth
- January 2010 – 2011: 88% growth
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
